Alcoa Stock Outlook

Analysts still view the stock as attractive. Current price $65.62 sits below an estimated fair value of $72.48, and the consensus price target is $75.54, implying a 7.38 % upside. Morgan Stanley upgraded Alcoa from “Equal Weight” to “Overweight” on April 9 2026, lifting its target to $80 and highlighting the firm’s high operating leverage and positioning in a volatile mining backdrop. JPMorgan also raised its target to $70 from $68 while maintaining a “Neutral” rating. A proposed U.S. tariff adjustment on imported aluminum‑containing finished goods could further strengthen Alcoa’s competitive stance as a domestic producer.